Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Sees Large Growth in Short Interest

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 8,537 shares, an increase of 128.5% from the November 30th total of 3,736 shares. Based on an average daily volume of 72,786 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 72,786 shares, the days-to-cover ratio is presently 0.1 days.

Alger Mid Cap 40 ETF Price Performance

NYSEARCA:FRTY traded down $0.02 during trading hours on Friday, reaching $21.36. 12,198 shares of the company were exchanged, compared to its average volume of 40,446. Alger Mid Cap 40 ETF has a 52-week low of $13.56 and a 52-week high of $23.36. The firm has a market cap of $122.61 million, a price-to-earnings ratio of 36.46 and a beta of 1.12. The stock has a 50 day simple moving average of $21.33 and a 200 day simple moving average of $20.71.

Alger Mid Cap 40 ETF Announces Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.041 per share. This represents a yield of 20.0%. The ex-dividend date of this dividend is Thursday, December 18th.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

An institutional investor recently bought a new position in Alger Mid Cap 40 ETF stock. NewEdge Advisors LLC acquired a new position in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 44,214 shares of the company’s stock, valued at approximately $850,000. NewEdge Advisors LLC owned approximately 0.83% of Alger Mid Cap 40 ETF at the end of the most recent reporting period.

Alger Mid Cap 40 ETF Company Profile

The Alger Mid Cap 40 ETF (FRTY) is an exchange-traded fund that is based on the Russell Midcap Growth index. The fund is an actively-managed, non-transparent ETF that provides exposure to US mid-cap companies with growth characteristics. The fund utilizes the Precidian non-transparent model. FRTY was launched on Feb 26, 2021 and is managed by Alger.